A NRI assessee who sold urban land & Building during the year ended 31/3/2020 and LTCL arises during the year. He still keeps sale consideration in NRO a/c. Now he wants to repatriate the money to foreign for his personal use. What procedure to be followed under INCOME TAX ACT & FEMA ACT?

if a person from India intends to sales goods / services through Amazon to US and provide the said goods to the clients through warehouse taken on rent in US following are the concerns:
1. While taking registration for Principal place of business (in India) do he has to mention the US ware house address as additional place of business?
2. Whether his sale will be treated as exports under GST, which is exempt from tax or he has to pay IGST separately?

Can an Individual file Income Tax Return for A.Y. 2020-21 now ? If total salary income is less than 5 Lacs. How much penalty is to be paid ?

A Composition Taxpayer didn't fill column 6 of GSTR 4 in FY 2020-21 and total tax paid in FY 2020-21 is credited in Negative Liability Statement. As a result the taxpayer can't able to create challan and pay the tax for APR-JUN qtr 2021 in cash as the tax amount adjusted with Negative Liability. Now, in this situation, what is the suitable solution for this issue.

Dear Professional Friends Good Afternun.

One Of My Friend Need To Buy NHAI Bonds For Getting Exemption For Capital Gains but no idea on where to buy, procedure for buying.So kindly give few ideas for his tax planning.


Thanking you for your precious Time spent in advance.

I Nominee of Death of Holders .so i want to transmission of share. I dont understand how to transfer the same. requested you please provide process for the same.

While filing my CMP 08 Negative liability shown in system i am unable to raise challan for tax payment. How to resolve and file my CMP 08.
PFA,

Assessee (an individual), acquires property through a revocable trust as sole beneficiary of the trust. Property purchased in the year 2012 through trust by the trustee in the name of trustee.
Since the Property has been transfered to assessee in 2021, if sold by assessee in the same year,
1) what would be the period of holding for the same in the hands of assessee ?
2) If its Long term in nature in the hands of assessee whether indexation is allowed?

Mr.A booked flat on ongoing scheme . Possession was expected as per RERA in Dec.2022. Due to covid RERA has given extension of 6 months. Total 5 buidling of 22 floor is to built up. Till date only two building work upto 5 floor is completed. It is highly impoosible that builder can build within june 2023. The work is going on at tortise spped and explaination of covid is given by builder. Mr.A has paid 25 lakhs out of 65 lakhs. He does not want to continue in the scheme and invest more amount and wish to quit from scheme. What is remdy to Mr. A. He can claim for refund from Builder. What will happen if he doest not remitt further demand. A is senior citizen and cant fight legal . What us best remedy ? Please give expert reply .

TDS Provision taken in March 21 of Rs.115000/- @0.75% as ''Person" for Guest house maintenance, but when actual bill received it was guest House Rent including Maintenance changes, but Invoice who has booked in April 21 they have deducted as short deduction as follow.
Rs.115000 x 0.75% = 1125 (March 21 Provision)
Invoice booked Rs.115000 X 7.5% = Rs.11250.00 - Rs, 1125.00 = 10125.00 and base value also not change.
when we came for Q1 Return the find out this issue ..
pls. suggest what treatment it would be there pls.